Which of the Following Is True Regarding Notice of Termination

question 54

Multiple Choice

Which of the following is true regarding notice of termination of an agency relationship?

• A) Notice of termination of an agency relationship must be given by actual notice.
• B) Depending on the circumstances, notice of termination can be actual or constructive.
• C) Notice of termination of an agency must be given in writing.
• D) Actual notice of termination of an agency relationship is not needed once 30 days have passed since the termination because at that point notice is presumed.
• E) Actual notice of termination of an agency relationship is not needed once 60 days have passed since the termination because at that point notice is presumed.

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Definitions:

Consumers

Individuals or entities that use goods or services produced within an economy.

Producers

Individuals or companies that create goods or services for sale or exchange.

Excise Tax

A tax imposed on specific goods, services, or transactions, often aimed at discouraging their use or raising government revenue.

Consumers

Individuals or entities that purchase goods or services for personal use and not for manufacture or resale.